How to show proof of household income and assets guide

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​​​​​​Ins​​tructions: This guide shows the most common sources of income and assets. There may be other sources of income that are not listed. Use this guide to make sure that you attach the right ​documents as proof of your income and assets. If the income type listed doesn't apply to your household, skip to the next section.​​

Note: You must report all of your household income and assets, even if they are not shown in this guide. Where further information or clarification is needed, we may also require additional documents that are not listed below.

These materials are available in an alternate format upon request.

If you have questions, call us at 416-981-5500

Frequently asked questions (FAQ)

Can I just provide my Notice of Assessment to calculate rent-geared-to-income (RGI) rent?

Most household members must provide current income verification documents as outlined in the sections below. However, if a member of the household whose only income is from a fixed pension and/or long term disability or has fluctuating income, AND the most recent Notice of Assessment covers a full year of these incomes, the household member may provide the most recent Notice of Assessment. Examples of fixed income include one or more of:

Old Age Security

Guaranteed Income Supplement

Canada Pension Plan

Canada Pension Plan for the Disabled

Worker’s Safety and Insurance Board long term compensation

Private pensions

Private long term disability

What is the definition of a child of the household for RGI calculation purposes?

Must be a child of a member of the household, AND

Always lived with the household except for short periods while in full-time attendance at a recognized educational institution, AND Does not have a spouse, AND

Is not the parent of a child living in the same household

What if I am a child of the household but not a full-time student?

Full-time student means taking at least 60% of a full course load or 40% of a full course load for a student with a permanent disability, at a recognized post-secondary educational institution (for example, a college, university, or vocational school) and the student has not been out of secondary school for more than five years at the start of his or her study program

The recognized educational institution, other than a university, must be within the Province of Ontario

If you do not meet the child of household AND full-time student requirements as stated above, you must report all your income and assets. Refer to question f. below if you do not have any income

Why do I have to submit my bank statements?

Your bank account is considered an asset. To qualify for an RGI subsidy you must submit all income and assets documents

Do I qualify for any deductions if I am paying child or spousal support?

Yes, but you must provide a copy of the support agreement or court order and copies of cancelled cheques (showing support paid)

What if I do not have any income?

You must provide your most recent Notice of Assessment from the Canada Revenue Agency, OR

You must obtain a sworn affidavit to state that you have not had any income in the past year up to present, and also that currently you do not have any source of income

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​​​Pensions and allowances income​ ​​

Source of Income:​​​

​Provide the following document(s):

Old Age Security (OAS)

Guaranteed Income Supplement (GIS)

Canada or Provincial Pension (CPP or CPP-D or QPP)

Guaranteed Annual Income System (GAINS)

Pensions (such as Widow’s, Retirement, Private, War Disability, or from other countries, etc.)

A copy of a current cheque stub which shows the gross amount of income and how often it is paid, OR

A slip issued for income tax purposes showing the most recent annual amount of the pension, disability or annuity income (i.e. T4A, T4A, OAS,T5007 etc..), OR

A letter from the pension or allowances income manager stating the amount of the monthly gross payment, OR

Most recent Notice of Assessment from Canada Revenue Agency if it covers the full pensions received for a full year

Annuities

A slip issued for income tax purposes showing the most recent annual annuity income (T4A)

Registered Retirement Investment Fund (RRIFs)

Current statement from the RRIF fund holder (bank or investment firm) showing the gross amount of monthly/annual withdrawals, OR

The T4RIF slip issued for the most recent year's income tax return​

​Social assistance income ​

Source of income​​:

​Provide the following document(s):

Ontario Works (OW)

Ontario Disability Support Program (ODSP)

Current copy of benefit statement and drug card from the City or the Province

​Note: If any household member who receives OW or ODSP also has other income (i.e. employment, CPP, child support, etc.), they must provide the current copy of the benefit statement and drug card, as well as the documentation to verify the other income sources as stated in this guide.​

​​​​Support payment(s) income​ ​

​Source of income:

​Provide the following document(s):

Spousal support payments or child support

Copy of the support agreement prepared and signed by a lawyer and both parents OR court order, OR

If there is no support agreement or court order, provide a letter from a lawyer or the Family Responsibility Office, OR

Provide a sworn affidavit stating how much financial support currently receiving and how often it is received

Sponsorship support under the Immigration Act

Statement from Citizenship and Immigration Canada and statement of support from sponsor showing amount of support, OR

Letter from sponsor specifying the monthly amount of financial support being provided

​​Other income or payments​ ​

Sour​ce of Income:​

​Provide the following document (s):

​Compensation for Victims of Crime Act

Most recent tax information slip(s) showing annual amount received

Skills Development Employment Benefit Contribution Agreement

Second Career Contribution Agreement

Self-Employment Employment Benefit

Training allowances

Copy of full agreement showing all benefits received for the duration of the agreement

​Employment related income​ ​

​Source of income:

​Provide the following documents:

Regular full-time and/or part-time employment income

Current consecutive or year-to-date pay stubs covering a minimum of 8 weeks. Paystubs must show your name, employer’s name and address, and which pay periods are covered, OR

If you do not receive pay stubs, submit a letter from your employer stating date of hire, gross annual income including any overtime pay or bonuses, or rate of pay, hours scheduled to work each week and gross monthly salary. This letter must be on company letterhead, recently dated and contain the telephone number and signature of the letter writer.

Commissions, tips, gratuities, or bonuses

Sworn affidavit stating the gross amount received during the past 12 months

Fluctuating employment income (contract, short-term, intermittent)

For the first year of fluctuating employment income, provide current consecutive pay stubs every 3 months. Paystubs must show your name, employer’s name and address, and which pay periods are covered

After first full year of fluctuating employment income, provide most recent Notice of Assessment from the Canada Revenue Agency

If self-employed for less than one year: provide unaudited financial statement every 3 months

If self-employed for one year or longer and business is not incorporated: provide most recent working copy of Canada Revenue Agency personal income tax return(T1 General),
AND Statement of Business Activities,
AND Notice of Assessment

If self-employed for one year or longer and business is incorporated, provide T4 and T5 slip for individual employment income and/or dividend income received from business, OR a copy of most recent Canada Revenue Agency personal income tax return
AND Notice of Assessment

Documents or certificates from bank or credit union with the following details: principal amount of investment, interest rate, amount of interest earned, date of issue and term, identifying serial number

Most recent T3 or T5 slips issued for tax purposes

Residential property anywhere in the world (such as a house, condominium, cottage, etc., that you own on your own, that you own with others, that you rent out, that you have a right to occupy, or that you have any other legal or beneficial interest in)

Non-residential property anywhere in the world, that is not residential (such as vacant land, commercial properties, etc.)

Written appraisal of the property done by a qualified appraiser

Mortgages or loans which you lent to someone else​

Copy of mortgage/loan payment schedule showing the principal and interest of each payment

Life insurance with a cash surrender value

Copy of policy or letter from the insurer indicating the current cash surrender value

Non-income-producing equity stake or share in business

​​Proof of no income

Provide most recent Notice of Assessment from Canada Revenue Agency, OR

Sworn affidavit to state that you have not had any income in the past year up to present, and also that currently you do not have any source of income

Note: You may be given written notice to obtain certain types of income which your household may be eligible for. Your household may become ineligible for rent-geared-to-income subsidy if you do not respond to the notice by the deadline provided.

Proof of full-time student status – applies to Child of Household only (See Child of Household definition on page one. Anyone who is not a Child of the Household must provide all income and asset documents as stated in this guide​​​ ​

​​ ​Exception: School documentation is not required if your only source of income is from Ontario Works (OW) OR from Ontario Disability Support Program (ODSP)

​If a Child of Household is 16 years of age or older AND is a full-time student:

​Provide the following document(s):

Secondary school (High school)​

a letter from the principal or registrar, OR

a timetable showing student name, school name, and courses enrolled in current semester

Post-secondary institutions (College or University)​

a document from a funding agency that outlines the name of the educational institution and the number of courses the student is taking, OR

a confirmation of enrolment letter prepared by an educational institution stating whether full-time or parttime status, OR

a receipt from the educational institution showing the student name, tuition fees paid and for what courses

​​​ ​If a Child of Household is 16 years of age or older but is NOT a full-time student, he/she must provide all income and asset documents as stated in this guide.